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CHAPTER 3UNCLE SAM’S TOOLBOX

• In 1933, President Franklin Roosevelt began to dramatically increase government expenditures on a whole slew of Keynesian-inspired New Deal programs, and the U.S. economy began what would be its very long journey out of the depths of the Great Depression. Over the next four years, the Dow Jones stock market average would rise by 240 percent.

• In 1954, the U.S. economy fell into its deepest recession since the Great Depression. President Dwight D. Eisenhower responded with a call for major tax cuts and increased public spending, bears turned to bulls, and the stock market rallied more than 80 percent over the next 15 months.

• In 1964, Congress passed the famous Kennedy Tax Cut in honor of the slain president. This ...

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